W&T Offshore, Inc.
2.1200-0.01 (-0.47%)
Oct 29, 4:00:02 PM EDT · NYSE · WTI · USD
Key Stats
Market Cap
314.48MP/E (TTM)
-Basic EPS (TTM)
-0.76Dividend Yield
0.02%Recent Filings
8-K
ATM agreement amended, adds Virtu
W&T Offshore amended its at-the-market equity distribution agreement on August 28, 2025, adding Virtu Americas as a sales agent while removing Stifel, enabling ongoing sales of up to $83,001,247 in common stock through Roth and Virtu. This setup, backed by a fresh prospectus supplement under the effective S-3 shelf registration, streamlines capital access amid offshore operations. No sales have occurred yet. Flexibility aids liquidity, but dilution looms for shareholders.
10-Q
Q2 FY2025 results
W&T Offshore's Q2 revenue dipped 14.3% year-over-year to $122.4M, driven by lower oil prices and volumes, yet natural gas sales surged 58.8% on stronger pricing, lifting total output to 3,052 MBoe. Operating loss widened to $12.9M from $6.2M amid higher lease expenses, but net loss of $20.9M—or $0.14 per diluted share—reflected derivative gains and lower interest costs post-refinancing. Cash climbed to $120.7M with $24.8M operating inflow, while free cash flow stood at $7.7M after $17.1M capex; debt totals $350.1M net under the new 10.75% notes due 2029, with $50M revolver untapped. Refinancing swapped high-rate debt for lower, easing burdens. Litigation lingers over surety collateral demands.
8-K
Q2 production up 10%
W&T Offshore boosted Q2 2025 production 10% to 33.5 MBoe/d, driven by Cox acquisition fields and nine successful workovers, yet lower prices slashed revenues by $8.1 million quarter-over-quarter to $122.4 million. Adjusted EBITDA climbed 9% to $35.2 million, free cash flow hit $3.6 million, and net debt fell to $229.4 million with $120.7 million cash on hand. Production grew despite challenges. The company declared a $0.01 per share dividend and resolved key surety disputes, easing collateral pressures through 2026.
8-K
Collateral requirements completed
W&T Offshore completed its post-issue collateral requirements under the January 28, 2025 Indenture on July 8, 2025, delivering executed mortgages, title information, lien searches, and legal opinions to the trustee. This fulfillment secures the debt issuance, ensuring compliance with covenant terms. Obligations met.
8-K
Surety settlement locks rates
W&T Offshore settled disputes with two major surety providers, USSIC and PHLY, dismissing related claims without prejudice effective June 13-14, 2025. The deals lock in 2024 premium rates and ban collateral demands through December 31, 2026, barring defaults or claims, covering nearly 70% of its surety bond portfolio. This shields liquidity while ongoing litigation persists. Settlement eases stock pressure.
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